On average, listings lease in the $140's per square foot per year. The Upper West Side region is experiencing a a rise in rates. In the last 3 months, the median rate increased $39 per sqft per year. That's a 36% increase in rent.
Compared to the rest of the New York City market, the Upper West Side region has higher rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 37 listings have been posted online, which means new listings are probably going fast. You'll want to be prepared to tour spaces as quick as possible. About 5% of the available space in the Upper West Side are subleases, so you will probably have to focus your search on direct office leases. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 600 sqft. Most properties in this market are close to 5 floors. Most buildings in this market were built in 1920 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Information is the dominant industry in this region. Most of the residents of Upper West Side work from home. Commuting around 20 minutes a day is the norm for those who opt to reside in this part of town.